Home / Metal News / Copper / Oct. 23 Shanghai copper spot market KuaiBao: the market has been dominated by monthly tickets, dragging down the rising water and decreasing the rate of decline.
Oct. 23 Shanghai copper spot market KuaiBao: the market has been dominated by monthly tickets, dragging down the rising water and decreasing the rate of decline.
Oct 23,2019 12:08CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, Oct. 23: Shanghai electrolytic copper spot contract today rose 30-80 yuan / ton, Pingshui copper transaction price 46990 yuan / ton ~ 47060 yuan / ton, Shengshui copper transaction price 47010 yuan / ton ~ 47080 yuan / ton. Shanghai copper pressure fell to 47000 yuan / ton below. The willingness of the holder to exchange cash is gradually strengthened, but some of the quotations are firm and there is demand for the current monthly ticket, which makes the early market quotation rise by 50 yuan / ton to 80 yuan / ton, but there is little demand. Under the guidance of the rapid reduction in the price of next month's ticket, the overall quotation in the market is declining rapidly. The monthly ticket is adjusted to the vicinity of 50 yuan / ton, and the flat copper ticket is reduced to 30 yuan / ton to 50 yuan / ton. only then can the transaction improve. The supply of wet copper was reduced from 30 yuan / ton to flat water. The price difference between the current monthly bill and next month's bill is 20% 30 yuan / ton. Today, the number of exchangers has increased significantly, but the downstream demand remains rigid, and most of the transactions are completed by long single delivery. The risk aversion sentiment before the national tax upgrade has also increased the number of exchangers. Under the pattern of supply exceeding demand, the conversion factor makes the rising water and falling become the leading behavior of the market.

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